Another green energy firm bites the dust

[Ought Six]

http://www.cbsnews.com/8301-31727_16...ites-the-dust/

.... leaving American taxpayers out $400 million$. And as to how Abound got that big loan, all one need to is examine the political contributions of one of Abound's biggest investors, Pat Stryker.

[American Caesar]

Obama- Hey Rocky! Want to see me pull another failed green firm out of my a$$?!

Rocky-Again!

[Indianatheart]

70 million of the 400 million paid to the firm - down the drain

Abound Solar was strongly supported by politicians in both parties. Its Indiana plant was supposed to create a thousand full time jobs and generate "several hundred million dollars in revenue." Backers included Senators Richard Lugar (R-IN), Evan Bayh (D-IN) and Representatives Dan Burton (R-IN), Pete Visclosky (D-IN), Mark Souder (R-IN), Mike Pence (R-IN), Baron Hill (D-IN), Joe Donnelly (D-IN), Brad Ellsworth (D-IN) and Andre Carson (D-IN). Abound laid off 280 workers last February and reportedly will lay off 125 more next week.

[G-AWZT]

http://www.cbsnews.com/8301-31727_16...ites-the-dust/

.... leaving American taxpayers out $400 million$. And as to how Abound got that big loan, all one need to is examine the political contributions of one of Abound's biggest investors, Pat Stryker.

The green crap is too expensive, is unsustainable, and only survives on subsidies. Those who support the green crap prey on ones guilt to sustain the garbage.

[C.Puffs]

The green crap is too expensive, is unsustainable, and only survives on subsidies. Those who support the green crap prey on ones guilt to sustain the garbage.

And the Kool-Aid drinkers fall for it again, and again, and again. They never learn.

[G-AWZT]

And the Kool-Aid drinkers fall for it again, and again, and again. They never learn.

Of course because the greatest single fault of a 21st century liberal is that they want to believe so badly on how everything should be as opposed to how things really are.

[Flagg]

Wait until you see the Natural Gas and fracking outfits shut their doors and lay off en masse.

Corn Ethanol, alt-energy, green jobs, NG fracking....it's all a wall street special interest shell game.

Coal......invest in coal.

[Mr Gently Benevolent]

Wait until you see the Natural Gas and fracking outfits shut their doors and lay off en masse.

Corn Ethanol, alt-energy, green jobs, NG fracking....it's all a wall street special interest shell game.

Coal......invest in coal.

When you look at the (quantifiable) debt levels many of these fracking companies are carrying against known resources and present $MMBtu you know it's going to end in tears.
Coal extractors are being subjected to propaganda war funded by donations from firms in the natural gas sector, The Beyond Coal project received $25 million from the natural gas producers alone.

[Flagg]

When you look at the (quantifiable) debt levels many of these fracking companies are carrying against known resources and present $MMBtu you know it's going to end in tears.
Coal extractors are being subjected to propaganda war funded by donations from firms in the natural gas sector, The Beyond Coal project received $25 million from the natural gas producers alone.

Coal would appear to be an investment option that will benefit from a Natural Gas industry collapse and inevitable price spike.

Hmmm...which coal company to buy.

[Violet Fashion by Mindy]

A few points to those who say renewable energy is something the government shouldn't be investing in.

1. Oil and Coal will eventually run out. Oil probably in our own lifetime.

2. I agree nuclear energy at first appears to be a solution. However this process has a number of issues that would need to be involved. For example we still need oil/gas to power most of the equipment to mine Uranium. Uranium mines are also quite nasty to the environment and are only profitable if the other precious metals are also being mined at the same location.

3. Economies of scale will start lowering the price of renewable energy sources. Whole new industries will be created in manufacturing in building new renewable energy sources that would exceed any mining endeavors.

[pocoloco]

With current consumption levels there's oil for next 48 years or so. Coal for next 133 years. Natural gas (LNG equiv.) for 60 years.*

As world population rises and also living conditions improve it means more consumption on the above mentioned resources so prolly they will run out faster than that.

Then again there are other resources that will run out faster, eg. nickel in 21 years, silver in 14 years and indium in 8 years.*

There are deposits that surely wait for to be found but then again extracting them might be costlier and more demanding.

* source 'The New North' p.55, author has used BP 2008 and British Geological Survey 2005 as his sources.

[welshmann]

Mining coal is also very nasty to the environment,only now after 20 years are the rivers by me starting to get bk to normal.

[Mu-Meson]

These loans are starting to look like the touch of death. Who knew that suckling at the teat of big govt was so poisonous?

With current consumption levels there's oil for next 48 years or so. Coal for next 133 years. Natural gas (LNG equiv.) for 60 years.*

As world population rises and also living conditions improve it means more consumption on the above mentioned resources so prolly they will run out faster than that.

Then again there are other resources that will run out faster, eg. nickel in 21 years, silver in 14 years and indium in 8 years.*

There are deposits that surely wait for to be found but then again extracting them might be costlier and more demanding.

* source 'The New North' p.55, author has used BP 2008 and British Geological Survey 2005 as his sources.

You do realize that people were saying this stuff 40 years ago, right? They were wrong then, and they are wrong now.

[shermbodius]

You do realize that people were saying this stuff 40 years ago, right? They were wrong then, and they are wrong now.

I remember and it seems it always the same sell.

[justin84]

70 million of the 400 million paid to the firm - down the drain

Abound Solar was strongly supported by politicians in both parties. Its Indiana plant was supposed to create a thousand full time jobs and generate "several hundred million dollars in revenue." Backers included Senators Richard Lugar (R-IN), Evan Bayh (D-IN) and Representatives Dan Burton (R-IN), Pete Visclosky (D-IN), Mark Souder (R-IN), Mike Pence (R-IN), Baron Hill (D-IN), Joe Donnelly (D-IN), Brad Ellsworth (D-IN) and Andre Carson (D-IN). Abound laid off 280 workers last February and reportedly will lay off 125 more next week.

Since this was bi-partisan (which isnt surprising since jobs were supposed to be created in R-districts), does that mean we can still blame the liberals and specifically obama?